Background Any contamination in the human body can prompt changes in blood cell morphology and various parameters of cells. The minuscule images of blood cells are examined for recognizing the contamination inside the body with an expectation of maladies and variations from the norm. Appropriate segmentation of these cells makes the detection of a disease progressively exact and vigorous. Microscopic blood cell analysis is a critical activity in the pathological analysis. It highlights the investigation of appropriate malady after exact location followed by an order of abnormalities, which assumes an essential job in the analysis of various disorders, treatment arranging, and assessment of results of treatment. Methodology A survey of different areas where microscopic imaging of blood cells is used for disease detection is done in this paper. Research papers from this area are obtained from a popular search engine, Google Scholar. The articles are searched considering the basics of blood such as its composition followed by staining of blood, that is most important and mandatory before microscopic analysis. Different methods for classification, segmentation of blood cells are reviewed. Microscopic analysis using image processing, computer vision and machine learning are the main focus of the analysis and the review here. Methodologies employed by different researchers for blood cells analysis in terms of these mentioned algorithms is the key point of review considered in the study. Results Different methodologies used for microscopic analysis of blood cells are analyzed and are compared according to different performance measures. From the extensive review the conclusion is made. Conclusion There are different machine learning and deep learning algorithms employed by researchers for segmentation of blood cell components and disease detection considering microscopic analysis. There is a scope of improvement in terms of different performance evaluation parameters. Different bio-inspired optimization algorithms can be used for improvement. Explainable AI can analyze the features of AI implemented system and will make the system more trusted and commercially suitable.